Bougainville mine reopening sought
12/5/08
Landowners at Bougainville Copper Ltd’s Panguna mine area have “unanimously” agreed to invite the company to consider re-establishing the big open pit mine. A response from Autonomous Bougainville Government (ABG) and BCL was not immediately available, but industry sources believe it will cost at least US$1 billion to reopen the mine and it could take three or four years before it is brought back into production. In a brief statement released last Friday, they said the two main landowner groups, the Panguna landowners association and directors of road mining tailing leases “have met with BCL” and unanimously agreed the company should return to Bougainville. The statement was signed by the chairman of PLA and RMTL Michael Pariu, the vice chairman of PLA Chris Damana, director of RTML Severinus Ampaoi and RTML’s director and company secretary Lawrence Daveona.